NexGen Energy (NYSE:NXE) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen downgraded shares of NexGen Energy (NYSE:NXE) from a sell rating to a strong sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently commented on NXE. Jefferies Financial Group initiated coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of NexGen Energy from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Friday, August 28th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NexGen Energy presently has an average rating of “Moderate Buy” and an average target price of $12.00.

NexGen Energy Price Performance

NYSE NXE traded down $0.12 during trading on Friday, hitting $7.75. The company’s stock had a trading volume of 4,659,586 shares, compared to its average volume of 5,533,763. The company has a market cap of $5.19 billion, a PE ratio of -28.70 and a beta of 1.43. The business’s 50 day simple moving average is $8.90 and its 200-day simple moving average is $10.55. NexGen Energy has a fifty-two week low of $7.33 and a fifty-two week high of $13.96.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04).

Institutional Trading of NexGen Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goehring & Rozencwajg Associates LLC raised its holdings in shares of NexGen Energy by 0.4% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 1,973,175 shares of the company’s stock worth $17,995,000 after purchasing an additional 8,473 shares during the last quarter. FORA Capital LLC purchased a new stake in NexGen Energy in the third quarter valued at $96,000. Marshall Wace LLP boosted its holdings in NexGen Energy by 70.6% in the third quarter. Marshall Wace LLP now owns 2,893,802 shares of the company’s stock valued at $26,395,000 after purchasing an additional 1,197,564 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in NexGen Energy by 15.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 944,216 shares of the company’s stock valued at $8,606,000 after purchasing an additional 129,714 shares during the last quarter. Finally, First Trust Advisors LP grew its position in NexGen Energy by 246.7% during the 3rd quarter. First Trust Advisors LP now owns 210,969 shares of the company’s stock worth $1,926,000 after purchasing an additional 150,116 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy is a Canadian uranium exploration and development company focused on advancing uranium projects toward potential production. Its activities include mineral exploration, project planning, engineering and permitting. The company’s flagship asset is the Rook I Project in Saskatchewan’s Athabasca Basin, a major uranium-producing region. Rook I contains the Arrow deposit, which NexGen is working to develop as a potential uranium mine. NexGen’s operations are centered in Canada. The company is in the development stage and is not currently a uranium producer.